Green Ammonia Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2022-2032F

Green Ammonia Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2022-2032F

Global Green Ammonia Market was valued at USD 4.07 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 39.16%, owing to a significantly increasing demand for renewable energy.

Green ammonia refers to the ammonia produced by processes that utilize renewable energy sources such as solar, wind, and hydro. In the production of green ammonia, hydrogen is extracted through the electrolysis of water using renewable energy, followed by the Haber-Bosch process. Green Ammonia plays an important role in achieving the net zero-carbon emissions target set by Paris Agreement 2050. Green Ammonia for power generation is expected to reach approximately 5700 thousand tonnes by 2030.

Growing Demand for Renewable Energy Driving Market Growth

Multiple renewable energy sources will be integrated with engineering and physical technologies to conserve and store energy in the coming years. Sustainable production and the application of carbon-free products on a significant basis could reduce the problem of rising carbon emissions. Consumers prefer green ammonia over ammonia produced from fossil fuels, as it encourages the decarbonization of power and shipping industries. Several end-use industries are moving in the direction of green ammonia due to its zero-carbon emission ability. Thus, the rising consumer awareness is expected to propel the demand for green ammonia during the forecast period to make viable and safer alternative fuels.

Stringent Rules & Regulations Related to Carbon Emissions is Driving Global Green Ammonia Market

Many governments are taking up the responsibility to implement regulations and policies to achieve zero-carbon emissions. Green Ammonia could help achieve the targets as it helps in generating electricity without any emissions. Governments of the nations are tracking the widespread execution of green ammonia manufacturing and its uses, which is important in accelerating the development and positioning of this technology. Countries are also aiming for the usage of renewable energy sources in their production method, as these options can be responsible for accomplishing the target of net-zero emissions. Thus, government initiatives expand the scope of green ammonia and create understanding among the market players, which results in driving the global green ammonia market in the forecast period.

Recent Developments

• In 2023, Topsoe has been selected by Beijing-based Mintal Hydrogen to offer its proprietary technology for a green ammonia plant in China. The 390,000 t/y plants, located in Baotou, Inner Mongolia, will be the first of its type in China, as well as Topsoe’s first power-to-X project in the country.

.

• In 2023, On January 13, the Indian government released a blueprint for its determined National Green Hydrogen Mission (NGHM) with a total initial outlay of USD 2419.39 million, of which USD 2143.19 million will be used for the production-linked incentives for producing green hydrogen and manufacturing electrolyzers.
• In 2023, Yara International plans to modify its ammonia terminals in Germany and that will allow handling of up to 3 million tons of ammonia. This equates to roughly 530,000 tons of hydrogen and will assist speed up the hydrogen economy in Germany.

Market Segmentation

The Global Green Ammonia market is segmented based on Production Method, End-Use, Region, and Competitive Landscape. Based on the Production Method, the market is further fragmented into Alkaline Water Electrolysis, Proton Exchange Membrane, and Solid Oxide Electrolysis. Based on End Use the market is fragmented into Power Generation, Transportation, Fertilizers & others.

Company Profiles

Yara International ASA, Haldor Topsoe Holding A/S, Maire Technimont, ThyssenKrupp AG, Siemens Energy AG, BASF SE., ACME Group, Fertiglobe plc, NEL Hydrogen AS, ITM Power plc, Green Hydrogen Systems AS, Greenfield Nitrogen LLC are some of the major players in the market.

Report Scope:

In this report, Global Green Ammonia market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Green Ammonia Market, By Production Method:
• Alkaline Water Electrolysis
• Proton Exchange Membrane
• Solid Oxide Electrolysis
• Green Ammonia Market, By End Use:
• Power Generation
• Transportation
• Fertilizers
• Others
• Green Ammonia Market, By Region:
• Europe
• France
• Germany
• Denmark
• Russia
• United Kingdom
• Sweden
• Switzerland
• Rest of Europe
• North America
• United States
• Canada
• Mexico
• Asia Pacific
• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific
• Middle East & Africa
• Saudi Arabia
• South Africa
• Oman
• UAE
• Rest of the Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Green Ammonia market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights